No Of Para-Fiscal Taxes Should Be Cut By 30%-35% - Romanian Fin Min

Romanian Finance Minister Gheorghe Pogea said Friday that para-fiscal taxes and fees should be reduced by 30-35% as they are "most of the times” in excess and hinder performances.

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The National Council for Small and medium Sized Enterprises in Romania CNIPMMR identified last year 540 para-fiscal taxes and fees, almost 5-fold higher than those presented by Finance Ministry.

Pogea stated the management costs of those taxes are even higher compared with their benefits.

As for the value-added tax, or VAT, Pogea said it would not be increased this year.

"We will consider the non-taxing of reinvested profit, the lump tax and measures to increase tax collection," Pogea said.

The minister reiterated that the Tax Code would be modified by March 31, followed by the Fiscal Procedure Code.

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